Notes From the Mortgage Desk: Extended and Expanded MPF Traditional Pricing Special
September 15, 2022
Mortgage Market Recap
Since our last Notes From the Mortgage Desk in May, the mortgage markets have continued to experience high volatility. Mortgage rates are up dramatically due to inflationary pressures and Fed actions, stifling home affordability for many buyers.
MPF® Price Specials - MPF Traditional Product
To alleviate some of the overall market pressure, we are extending our targeted pricing special announced in May and improving prices across all MPF Traditional products! The Mortgage Partnership Finance® (MPF) price specials could lead to a "bump" in price in certain note rates.
Pricing Special Details:
- Pricing specials start today and are expected to end on or before December 31, 2022
- Improved pricing across all MPF Traditional products!
- Extended: Additional price benefit for 30-year conforming loans that meets the following criteria:
- Any loan size above $250K
- Intended to include the prevailing mortgage rate, plus the two production rate below the mortgage rate, adjusted daily
- All Participating Financial Institutions (PFIs) are eligible, subject to existing volume caps
Login to eMPF® to monitor the pricing benefits. Take advantage by simply executing a delivery commitment!
Maximize Your Competitive Advantage With Our Downpayment Plus® Program
PFIs can further boost the benefits offered to their customers by leveraging our Downpayment Plus Downpayment Plus Program (DPP®)Program (DPP®). The program offers the income-eligible customers of FHLBank Chicago members forgivable grants for down payment and closing cost assistance, currently up to $6,000.
For more information about DPP, reach out to the DPP team at dpp@fhlbc.com or contact your Sales Director for more information.